Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES    
Net income $ 322 $ 828
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash stock-based compensation 176 46
Depreciation and amortization 4,229 4,487
Amortization of deferred financing costs 258 270
Non-cash lease expense 2,267  
Accretion of acquisition-related deferred payments and contingent consideration 1 16
Provision for bad debts 320 146
Deferred income taxes (5,304) 382
Gain on early retirement of long-term debt (426)  
Net (gain) loss on the disposition of assets 4,024 5
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue 1,758 1,176
Inventories (256) (78)
Prepaid expenses and other current assets 1,387 (69)
Accounts payable and accrued expenses 3,449 6,629
Deferred rent expense   (119)
Operating lease liabilities (3,458)  
Contract liabilities 133 (938)
Deferred rent income (43) (23)
Income taxes payable 130 115
Net cash provided by operating activities 8,967 12,873
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (2,404) (2,472)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements   (4)
Escrow deposits paid related to acquisitions   (240)
Escrow deposits received related to radio station sale   500
Proceeds from sale of assets 1,255 1
Other (139) (170)
Net cash used in investing activities (1,388) (2,385)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (6,123)  
Refund (payments) of debt issuance costs (13) 41
Proceeds from the exercise of stock options   19
Payments on financing lease liabilities (21) (31)
Payment of cash distribution on common stock (1,702) (1,701)
Book overdraft 3,827 187
Net cash used in financing activities (7,692) (10,485)
Net increase (decrease) in cash and cash equivalents (113) 3
Cash and cash equivalents at beginning of year 117 3
Cash and cash equivalents at end of period 4 6
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 302 73
Cash paid for interest on finance lease liabilities 2  
Cash (received) paid for income taxes 130 (95)
Other supplemental disclosures of cash flow information:    
Barter revenue 1,310 1,737
Barter expense 1,356 1,266
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances   4
Right-of-use assets acquired through operating leases 288  
Non-cash capital expenditures for property & equipment acquired under trade agreements   9
Abl Facility [Member]    
FINANCING ACTIVITIES    
Proceeds from borrowings under ABL Facility 22,189 10,334
Debt repayment (25,849) $ (19,334)
Digital Media [Member]    
INVESTING ACTIVITIES    
Purchases of digital media businesses,publishing businesses and assets $ (100)